https://sputnikglobe.com/20230614/fed-skips-rate-hike-in-june-after-10-previous-increases-says-could-hike-again-1111160449.html
Fed Skips Rate Hike in June After 10 Previous Increases, Says Could Hike Again
Fed Skips Rate Hike in June After 10 Previous Increases, Says Could Hike Again
Sputnik International
The Federal Reserve on Wednesday decided to skip a rate hike in June after 10 straight increases over the past 15 months but cautioned that it will do another raise if necessary based on inflation.
2023-06-14T18:22+0000
2023-06-14T18:22+0000
2023-06-14T18:36+0000
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"The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run," the Fed said at the conclusion of the June meeting of its policy-making Federal Open Market Committee (FOMC). "In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 5 to 5-1/4 percent." But holding rates at this level will depend on forthcoming data, the FOMC said. "In determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments," it added.
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Fed Skips Rate Hike in June After 10 Previous Increases, Says Could Hike Again
18:22 GMT 14.06.2023 (Updated: 18:36 GMT 14.06.2023) WASHINGTON (Sputnik) - The Federal Reserve on Wednesday decided to skip a rate hike in June after 10 straight increases over the past 15 months but cautioned that it will do another raise if necessary based on inflation.
"The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run,"
the Fed said at the conclusion of the June meeting of its policy-making Federal Open Market Committee (FOMC). "In support of these goals, the Committee
decided to maintain the target range for the federal funds rate at 5 to 5-1/4 percent."
But holding rates at this level will depend on forthcoming data, the FOMC said.
"In determining the extent of additional policy firming that may be appropriate to return inflation to 2 percent over time, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments," it added.
